What is the cost of sales?    Sales - £120,000, Opening Inventory £25,000, Purchases, £85,000, Closing Inventory £27,000   Select one. £137,00 £37,000 £83,000 £85,000

Q: Peter has two items of inventory at 31 December 2022, as shown below: P Q £ £ Cost 60, 000 40,000…

A: According to IAS-2 “Valuation of inventory”, inventories are valued at lower of cost or net…

Q: Sales $ 435,000 Beginning merchandise inventory $ 29,000 Purchases $ 290,000 Ending merchandise…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Knowledge Check 01 Consider the following information: Accounts receivable Merchandise inventory Net…

A: Accounts receivables are those customer accounts to whom credit sales has been made by business, but…

Q: Question 16 The following information is available for Nano Company for 2022: Freight-in $30,000…

A: Cost of Goods soldThe Cost of goods sold is the amount of cost which has been incurred by the…

Q: Beginning inventory 32 000 Cost of goods sold 404 000 Ending inventory 45 000 Net icome 28 000 Net…

A: Ratios are used by the firms to know the exact situation of the firm in comparison to the industry…

Q: Blue Company has the following data for the year Beginning Inventory Net Sales Revenue Gross…

A: The ending inventory can be calculated by deducting the cost of goods sold from the cost of goods…

Q: Need help with this question

A: To begin, it's important to understand how sales, cost of goods sold (COGS), sales returns and…

Q: Lewis Incorporated and Clark Enterprises report the following amounts for the year. Inventory…

A: Cost of goods sold (COGS): Cost of goods sold refers to the direct costs of producing the goods sold…

Q: Net sales Cost of goods sold $ 180,000 124,000

A: Ratio analysis is a technique to know the liquidity, profitability and operational efficiency of the…

Q: Beg Inv @ cost $11,160 Net Additional markups $600 Sales $94,056 Purchases @ retail $92,400…

A: Cost to retail ratio: Under the retail inventory method, closing inventory is valued using the cost…

Q: If Gross Profit is O a. Zero O b. 110,000 O c. 165,000 O d. 65,000

A: Gross profit is the difference between sales revenue and cost of goods sold.Cost of goods sold is…

Q: GB SalesRevenue                      16800    Purchases                            12800 Gross…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: None

A: Given information, Average inventory = $60,000Average inventory days = 29.2Number of days in a year…

Q: QUESTION 14: You are given the following information about LM Company: Beginning inventory $210,000…

A: This question is taken from Final Accounts of Financial Accounting. In this question we are asked to…

Q: need answer please provide correct option

A: Hello student! Net Sales is the difference between the total sales and any sales deductions. These…

Q: Given the following information, what is the cost-to-retail ratio? Beginning inventory at cost…

A: Particulars Cost Retail Beginning inventory $20,000 $35,000 Purchases  100,000 168,000 Goods…

Q: first Question answer with option

A:

Q: A firm uses an inventory item with the following characteristics. Cost per-item $ 6.00 Annual…

A: Answer -    Calculation of number of reorders to be made each year: EOQ=√2DO / C =√2(1,000)(30) /…

Q: If beginning inventory is $10,000, purchases are $90,000 and ending inventory is $30,000, what is…

A: Beginning Inventory is recorded on the first day of the financial year whereas Ending inventory is…